Half a million more self-assessment tax returns were filed on time this year than 2011, HM Revenue & Customs (HMRC) has revealed, following the introduction of a new penalty system, writes Georgina Harris.

Business groups have welcomed a £126 million programme to help jobless 16- to 17-year-olds into work – provided the education system also focuses on producing “work-ready” young people, writes Simon Wicks.

Business groups have called for more competition in the retail banking industry, after figures revealed high street banks fell short of their 2011 lending target to small businesses, writes Simon Wicks.